DCB Bank Q4 net profit rises to Rs64 crore
DCB Bank’s operating profit rises to Rs142 crore during the fourth quarter from Rs115 crore in the year-ago period, an increase of 23%
New Delhi: DCB Bank Ltd on Saturday reported a net profit of Rs64 crore in the fourth quarter ended March of 2017-18 on the back of increase in operating profit.
The private sector lender had posted a profit after tax (PAT) of Rs53 crore in the year-ago period. In a regulatory filing, the bank said its operating profit rose to Rs142 crore during the quarter from Rs115 crore in the corresponding quarter of 2016-17, an increase of 23%.
“Branch expansion strategy seems to be delivering expected outcomes, so far we are making satisfactory progress. Our intention is to achieve steady, consistent and profitable growth while ensuring low NPAs (non performing assets),” DCM Bank’s MD and CEO Murali M. Natrajan said.
The bank said it earned a net interest income of Rs264 crore as against Rs220 crore in the same period of the last year, a growth rate of 20%. Besides, it earned non-interest income of Rs85 crore during the quarter under review, against Rs63 crore in the same period of the previous fiscal, an increase of 34%.
Also, the bank on Saturday informed BSE that its board of directors have recommended a dividend of Rs0.75 per equity share of Rs10 each for the year ended 31 March.
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